Nuveen and Nuveen Green Capital (NGC) have introduced the Nuveen CPACE Lending Fund, aimed at granting insurers access to a diversified assortment of environmentally friendly projects, including energy efficiency, climate resilience, water conservation, and renewable energy. The fund will be managed by NGC 

Six insurers have joined as initial investors. The fund aggregates financing for commercial property-assessed clean energy (C-PACE) projects, offering insurers a capital-efficient route to investment-grade clean energy assets.  

“The Nuveen CPACE Lending Fund is an exciting evolution in the C-PACE industry and sustainable real estate financing, broadly,” said Alexandra Cooley, CIO of NGC. “The strategy invests in projects that reduce the environmental impact of buildings by increasing energy efficiency. This lowers operating expenses for businesses, helping them to compete locally and globally, and benefits local communities through the creation of jobs.”